Cottonseed futures up on increased buying

Cottonseed prices rose by Rs 19 to Rs 1,333 per quintal in futures trading today owing to increased buying, guided by higher domestic markets sentiment. 

Market analysts said fall in supply and low stocks position, sparked by rising demand in spot markets, mainly influenced trading sentiments here in future price of cottonseed oilcake.

At the National Commodity and Derivatives Exchange, cottonseed oil cake for September delivery improved by Rs 19, or 1.45%, to Rs 1,333 a quintal, with an open interest of 42,970 lots.

Likewise, cottonseed prices for August delivery increased by Rs 14, or 1.12%, to Rs 1,260 per quintal, with an open interest of 18,710 lots.